United Kingdom growth to be slowest in G20 this year, says OECD

United Kingdom growth to be slowest in G20 this year, says OECD”

And while eurozone growth is expected to ease off from 2.5% previous year to 2.3% in 2018 and 2.1% in 2019, major continental economies like Germany and France are forecast to out-perform the UK.

The UK will be the slowest-growing economy in the G20 barring South Africa if the OECD's predictions come through, with growth well behind the 2.2 per cent average expected in the Eurozone or the 2.5 per cent annual expansion in the US.

Britain, however, was seen missing out on the global upturn, lagging all other G20 countries with growth of only 1.3 percent this year, although up from a November forecast of 1.2 percent due to the broader global improvement.

This is up from a forecast last November of 3.7% in 2018 and 3.6% in 2019.

However, the report also warned that "an escalation of trade tensions is a serious risk" following Trump's decision to introduce tariffs on steel and aluminium imports.

The OECD blamed the UK's position on high inflation dampening consumer demand and continued uncertainty about Brexit.

But while it also revised slightly upwards its expectations for the United Kingdom economy - to growth of 1.3% during 2018 - it said Brexit uncertainty would continue to weigh on performance.

President Emmanuel Macron's social welfare, tax and labour market reforms would help France narrow the gap with Germany, with growth forecast at an 11-year high of 2.2 percent (+0.4) before easing to 1.9 percent in 2019 (+0.2).

"A lot of investment happens in London, it doesn't happen in many other areas".

Despite the upward revisions, the OECD said private consumption in Japan could be subdued if wage and income growth are modest. Previously the OECD had estimated three hikes would suffice this year.

He said: "Investment is coming back, and so this is very good news for good new for jobs and growth across the economies".

Mr Pereira said a global trade war would be harmful for the global economy.

"I think it is very important to avoid escalation and to initiate a strengthening in the global dialogue to solve not only the problem for steel but to avoid bigger repercussions in terms of trade".

Like this



13 March 2018
2 hospitalised after 'suspicious package' found at UK Parliament
Ambulances from the Incident Response Unit were on the scene quickly. This is further to the two items investigated yesterday.

13 March 2018
Regina MLA Mark Docherty named new Speaker of Saskatchewan Legislature
The Saskatchewan Party's Docherty was elected in Regina Coronation Park in 2011. The speaker is also expected to be non-partisan and impartial.

13 March 2018
Numsa obtains court interdict to block Eskom signing renewable energy deals
Eskom refused to complete the agreements because executives said they were expensive and that power from the projects isn't always available.

13 March 2018
Big Sean & Jhene Aiko's Relationship reportedly hits Rough Patch over Nicole Scherzinger
A source told the celebrity blog that Sean and Nicole were booed up at an awards party after the 2018 Oscars . Aiko and Sean first sparked dating rumors in mid 2016 after they worked together under the moniker TWENTY88.

13 March 2018
Egypt's foreign minister in South Sudan to boost relations
South Sudan and Egypt have agreed to bolster diplomatic ties for mutual stability and development. South Sudan is the first stop in Shoukry's tour of Africa that started on Monday.

13 March 2018
Applied Materials' (NASDAQ:AMAT) "Outperform" Rating Reaffirmed at Credit Suisse Group
Adirondack Tru has invested 0.14% in Applied Materials , Inc. (NASDAQ:AMAT). 74,622 were accumulated by Envestnet Asset Mgmt. Among 13 analysts covering Gartner Inc ( NYSE:IT ), 9 have Buy rating , 0 Sell and 4 Hold. (NASDAQ:AMAT) for 22,808 shares.

13 March 2018
Manchester United's Carrick to retire at end of the season
Carrick has played three times since, with United winning each game without conceding a goal. He has not played since December 26.

13 March 2018
Hurling Quarter-Finals And Play-Offs Next Weekend
In Division One of the Football League, there's a repeat of last year's final at Croke Park, as holders Kerry face Dublin. This is the most eye-catching quarter-final tossed up by an exciting final round of matches in Divisions 1A and 1B.

13 March 2018
Has $1.42 Million Stake in CVS Health Corp (CVS)
Loop Capital set a $73.00 price objective on CVS Health and gave the stock a "hold" rating in a report on Monday, December 4th. As per Wednesday, August 5, the company rating was maintained by Numis Securities. (NYSE:AIG) rating on Thursday, August 11.

13 March 2018
Barcelona beat Malaga while Lionel Messi attends birth of son
We scored the two goals, we could have scored more and they have had the red card for Samuel [Garcia]. Messi's next match will be on Wednesday for the Champions League visit by Chelsea.